Manufacturing Profits Set New Record In 2011

By Mark J. Perry: The Census Bureau reported Monday on fourth quarter financial results for the U.S. manufacturing sector, with the following highlights:1. After-tax profits for U.S. manufacturing corporations were just short of $600 billion in 2011, setting a new annual record. The $598.3 billion of profits for American manufacturers last year represented an increase of more than 25% from the $477.7 billion in profits the previous year, and follow a 67% gain in 2010. In contrast, the after-tax profits for all U.S. corporations are on track to increase by less than 5% for 2011 based on data currently available through the third quarter of last year, following a 19% increase in 2010.2. The $600 billion in after-tax manufacturing profits is also more than 27% above the pre-recession high of $470.2 billion 2006, and more than double the annual profits in 2008 and 2009 of less than $300 in each of thoseComplete Story »